In today’s briefing:
- Alteogen: Block Deal Sale of About 3% of Shares
- Lotte Tour Development: A Major Asset Revaluation Resulting in More Than 8X Increase in Equity
Alteogen: Block Deal Sale of About 3% of Shares
- On 27 March, Alteogen announced that Jeong Hye-shin, former Alteogen Chief Strategy Officer (CSO), sold 1.6 million shares of Alteogen stock in after-hours trading in block deal sale.
- The block deal sale price was 197,770 won. Alteogen’s share price declined by 10.9% today to 195,600 won. Block deal sale amount was about 316 billion won.
- This block deal sale combined with the sharp recent, share price increase are likely to result in a near-term consolidation of its share price in the next several months.
Lotte Tour Development: A Major Asset Revaluation Resulting in More Than 8X Increase in Equity
- Lotte Tour Development announced that it will conduct a major asset revaluation which could positively impact its share price.
- The company’s assets will increase to 2.39 trillion won and equity will increase to 569.3 billion won (up more than 8x) at end of 1Q 2024 due to asset revaluation.
- As a result of the asset revaluation, the company’s balance sheet will improve significantly and this likely result in many investors taking another look at the company for potential investments.
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